AsiaFinance and InsuranceShipyards

DSME lends $114.5m to SBM Shipyard

Daewoo Shipbuilding & Marine Engineering (DSME) is to lend a total of KRW 133bn ($114.5m) to SBM Shipyard to extend repayment of its existing shareholder loans.

The loan has a 5% interest rate and is equal to around 2.8% of SBM’s equity capital.

The facility has a three-year tenor, from October 21 this year until October 20, 2018.

The new agreement brings the total balance of DSME’s lending to SBM Shipyard to KRW 179.30bn ($154.3m).

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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